No one wants to buy Trump's Caribbean estate, which just got a $11 million price chop
Sotheby's and Reuters/Carlos Barria
President Trump's luxurious St. Martin estate has gotten a massive price cut.
Le Château des Palmiers was previously listed for $28 million with Sotheby's International Realty.
The price was lowered by more than $11 million about a month ago, the Washington Post reported. It's now listed for $16.9 million.
It's a walled estate across nearly five acres, with both a main house and a guest house. In total, the compound has 11 bedrooms.
Records show that it was listed for just under $20 million when Trump purchased it in 2013, though it's unclear how much he ended up paying for it.
According to disclosure filings obtained by the Wall Street Journal in 2015, Trump owns the property through two companies called Excel Venture I LLC and Excel Venture Corp II. Trump typically uses the Caribbean escape as a rental property, and, according to the disclosure, he gets between $100,000 and $1 million a year from it. The sale is being handled by a revocable trust run by Donald Trump Jr. and Trump Organization executive Allen Weisselberg.
Take a look around inside:
Though Trump didn't develop the house himself, he added his own flair to it after purchasing it in 2013.
Plenty of light shines through the main house.
The front doors bear his family crest.
See the rest of the story at Business Insider
No comments: